David Badash

'This should be concerning': Experts alarmed at Trump's profane rant against Fed chair

President Donald Trump unleashed another attack on Federal Reserve Chairman Jerome Powell, calling for the firing of the independent agency chief who has just months left in his term. Experts this week suggested eroding the Fed’s independence could trigger stagflation.

In a speech at the U.S.—Saudi Investment Forum on Wednesday, President Trump urged his Secretary of the Treasury, Scott Bessent, to “work on” getting Powell to lower interest rates. Experts warn that lowering interest rates inappropriately could lead to even higher inflation.

“He’s got some real mental problems,” Trump told the audience at the Kennedy Center, referring to Powell. “He’s — something wrong with him.”

“I’d be honest, I’d love to fire his a –. He should be fired. Guy’s grossly incompetent,” Trump charged. “And he should be sued for spending $4 billion to build a little building. I’m building a ballroom that’s gonna cost a tiny fraction of that, and it’s bigger than the whole thing put together.”

Trump was referring to the renovations at the Federal Reserve. The Fed does not rely on tax dollars for its operations.

“You gotta work at him, Scott,” Trump continued from the podium. “The only thing Scott’s blowing it on is the Fed. Because the Fed, the rates are too high, Scott. And if you don’t get it fixed fast, I’m gonna fire your a –, okay?”

Critics weighed in on Trump’s attack.

“If you are a single-issue ‘affordability’ voter, this should be concerning,” remarked Catherine Rampell, the economics editor for The Bulwark.

Andrew Ackerman, who covers the Fed for The Washington Post, appeared to mock the president: “Trump: I want to fire Jay Powell but Scott Bessent won’t let me.”

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'Ripple of fear': Award-winning FBI veteran accuses Trump admin of civil rights violation

An FBI employee has filed a First Amendment civil lawsuit alleging he was fired for displaying an LGBTQ pride flag near his desk. The flag reportedly was presented to him after it was flown outside the Bureau’s field office in Los Angeles. According to the lawsuit, his dismissal notice, signed by Director Kash Patel, claimed the flag was “an inappropriate display of political signage.”

David Maltinsky, a 16-year FBI veteran who was just weeks away from being promoted to agent status, claimed his firing was unlawful and sent a “ripple of fear” through LGBTQ employees at the FBI.

“I have determined that you exercised poor judgment with an inappropriate display of political signage in your work area during your previous assignment at the Los Angeles Field Office,” the letter reads, according to a CBS News exclusive report. “Pursuant to Article II of the United States Constitution and the laws of the United States, your employment with the Federal Bureau of Investigation is hereby terminated.”

Maltinsky is suing to have his job restored. In the lawsuit, Maltinsky alleges that a complaint was filed against him on President Donald Trump’s first day in office this year.

“We’re not the enemy and we’re not some political mob,” Maltinsky told CBS News. “We’re proud members of the FBI, and we have a mission to do. We go to work every day to do it.”

“The ripple effect of fear has been felt. Many gay colleagues have removed Pride flags from their desks, allies have removed Pride flags from their desk,” he added.

MS NOW last month reported that Maltinsky’s termination letter was “sent on the first day of a nationwide government shutdown that created job uncertainty throughout the federal workforce.”

Maltinsky had “won an Attorney General’s Award in 2022 in recognition of his work, according to a Justice Department news release.”